Jacobi Capital Management LLC Increases Stake in Essential Utilities, Inc. (NYSE:WTRG)

Jacobi Capital Management LLC boosted its stake in Essential Utilities, Inc. (NYSE:WTRG) by 3.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 67,767 shares of the company’s stock after buying an additional 2,393 shares during the period. Jacobi Capital Management LLC’s holdings in Essential Utilities were worth $2,461,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Essential Utilities in the 3rd quarter worth approximately $26,000. Darwin Wealth Management LLC bought a new stake in shares of Essential Utilities in the 3rd quarter worth approximately $28,000. First Horizon Advisors Inc. grew its position in shares of Essential Utilities by 61.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Essential Utilities in the 3rd quarter worth approximately $42,000. Finally, IFP Advisors Inc grew its position in shares of Essential Utilities by 75.0% in the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after buying an additional 473 shares during the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Stock Up 1.0 %

NYSE WTRG opened at $37.96 on Friday. The stock’s 50-day moving average price is $35.60 and its 200-day moving average price is $37.85. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78. The company has a market capitalization of $10.42 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 2.57 and a beta of 0.87.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. On average, equities research analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s dividend payout ratio is currently 65.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WTRG shares. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company upped their price target on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday. Robert W. Baird upped their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, UBS Group cut their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

Essential Utilities Profile

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. The company operates through Regulated Water and Regulated Natural Gas segments. It offers water services through operating and maintenance contract with municipal authorities and other parties.